Nearly one year on from the collapse of $1.2 billion hedge fund Basis Capital, the firm’s distribution head has resurfaced in the domestic alternatives industry.
Former Basis director Rick Bernie joined boutique hedge fund research and placement firm Hatfield Liptak Advisers (HLA) last month as head of distribution, working alongside founders Damian Hatfield and Daniel Liptak to research, select and market hedge funds to institutional investors, family offices, platforms and high-net-worth individuals. Meanwhile, a former business development manager with Basis, Duncan Yuille, was in recent months appointed as the head of investor relations at hedge fund Arnott Capital. In the mould of earlier alternatives managers, Arnott Capital keeps a low profile, however it is known to implement equity long/short, credit arbitrage and event-driven hedge fund strategies. The first vehicle it launched was an equity long/short fund in September 2005. Commenting on Bernie’s appointment to HLA, Hatfield said he would assist the firm as it sought to expand its investor base and the number of funds it represents. HLA recently raised US$30 million from American and European family offices for a $700 million water fund being run by a US manager. HLA launched in 2007. Among its five clients are $US 11 billion American firm Ramius, CCP and Laurus. Hatfield also once worked as head of distribution at Basis. During his tenure there, which ended in 2000, he hired Bernie into the business.
Future Fund chief investment officer Ben Samild said that FY24 has been a great year for alpha creation, thanks to strong returns in equities and, unusually, across multiple hedge fund strategies all at the same time. He reflected the past few years have been “a difficult time to be an asset owner and to generate positive returns for risk assets” but the Future Fund is tracking well of its long-term mandate.
Simon Hoyle and Darcy SongSeptember 4, 2024
